Published on 3/3/2023 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $1.08 million autocallable market participation notes linked to S&P 500
By William Gullotti
Buffalo, N.Y., March 3 – HSBC USA Inc. priced $1.08 million of 0% market participation notes with autocall feature due March 3, 2026 tied to the performance of the S&P 500 index, according to a 424B2 filing with the Notes and Exchange Commission.
The notes will be automatically called at par plus a 9.7% call premium if the index closes at or above its initial level on Aug. 28, 2024.
If the return of the index is positive, the payout at maturity will be par plus the return.
Otherwise, investors will receive par.
HSBC Notes (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Market participation notes with autocall feature
|
| Underlying index: | S&P 500 index
|
| Amount: | $1,081,000
|
| Maturity: | March 3, 2026
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If the index finishes above its initial level, par plus the index return; otherwise, par
|
| Call: | Automatically at par plus 9.7% call premium if the index closes at or above initial level on Aug. 28, 2024
|
| Initial level: | 3,970.15
|
| Pricing date: | Feb. 28
|
| Settlement date: | March 3
|
| Agent: | HSBC Notes (USA) Inc.
|
| Fees: | 0.75%
|
| Cusip: | 40441XJ35
|
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